fwheed know the rules of the load and the regulators have an obligation to provide a clear and transparent process to follow. congress and the judicial system must make sure the epa exercises only the authority it has and not the authority it wishes it has. thank you. >> thank you for your testimony. >> good morning. my name is ross eisenberg. i want to discuss what the retroactive veto did. manufacturers really need predictability from the regulatory process. they must understand the rules of the road so they can be responsible informed i vestment decisions. this lack of predictable is the problem that we're here to discuss today. it's the main reason that other organizations found it necessary to enter this litigation against epa. the spruce mine veto was a $250 million decision by epa that created a $220 billion problem. let's talk first about the 250 million. arch poll planned to commit $250 million and 250 well paying jobs in west virginia. obviously, this project matters. you heard that from the state senator. about that $220 billion problem. the court estimates that it issued roughl

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you're trying to look at and you've got it right, when you look at even on miss cal austerity, yes, fwheede need some regulation here but too much does suggest it's a global balance. we're learning one step at a time. it's a work in progress. we'll never know that there's a certain right regulation an as you know, financial markets always change over time. so regulation thathat was put i place in 1980 or 1990 or 201 becomes out of indicate. >> do you think the title rules will ultimately end up hurting bank lending? >> that's a delicate balance. lending in the traditional sense, perhaps. but i would suggest that we'll probably find new ways of lending as people have new types of demand in terms of credit. so i think credit lending in in general will evolve in a different way than we've seen in the past. but it will change. >> i wonder if the question is whether they're creating imbalances whether trying on to rectify them and whether you think qe-3 which you say is on the and i believe will ultimately help support growth in the u.s. economy. >> it does appear that when you look at let's sa